This Multi-Timeframe ATR Indicator displays the Average True Range (ATR) values from multiple timeframes on a single chart, providing traders with a clear view of market volatility across different time periods. The indicator calculates and plots the ATR for the 1-hour, 3-hour, 4-hour, 1-day, and 2-day timeframes, with the flexibility to toggle each timeframe on or off based on user preferences. By visualizing these ATR values, traders can estimate potential price movement for various timeframes and monitor how volatility evolves in the market. This makes the tool particularly valuable for traders looking to incorporate volatility insights into their strategies without overwhelming their charts.
The Average ATR is calculated dynamically based on the selected timeframes. If all timeframes are enabled, the Average ATR represents the mean of all the plotted ATRs. If only certain timeframes are chosen, the Average ATR reflects the average of those selected, offering tailored insights depending on the trader's focus.
By evaluating higher timeframes when entering trades, traders gain a deeper understanding of broader market conditions. This allows them to make more informed decisions about whether to remain in a trade for a longer period.
With its fully customizable design, including color-coded plots for each timeframe and optional labels that display ATR values directly on the chart, this indicator is an ideal tool for enhancing technical analysis while maintaining a clean and organized chart layout.